Australian billionaire and philanthropist Andrew Forrest to invest $500 million in Ukraine

On June 21, during the Ukraine Recovery Conference 2023, Forrest announced his contribution to the Ukraine Development Fund — the Ministry of Economy of Ukraine.

The Ukraine Development Fund is a private investment fund that will finance the country's reconstruction. The Fund is supported by the Ministry of Economy of Ukraine and receives free consultations from the world-famous investment company BlackRock. The idea to create this fund was Forrest's. 

The billionaire believes that Ukraine should become a cashless society, as this will make corruption much more difficult.  Deputy Minister of Economy Oleksandr Hryban said during the conference that Volodymyr Zelenskyy supported the plan.  

“When you achieve that, which I have no doubt you will, the global capital markets led by BlackRock and myself, with private investors and institutions around the world, will willingly invest in Ukraine for what I say is an excellent, long-term investment,” Forrest said.

Photo: Bharti Patel, CEO, ECPAT UK and Andrew Forrest | Wikipedia